SDG 13 - Climate action
How KfW Development Bank promotes climate protection and adaptation
Climate change is one of the greatest challenges facing humanity. Although a considerable part of the effects of climate change still lie ahead of us, we are already feeling the changes all over the world: droughts, floods, heat waves. Developing countries suffer most from these extreme weather events, although they have contributed least to climate change. That is why we need rapid and decisive countermeasures in all areas of life worldwide.
In the 13th United Nations Sustainable Development Goal (SDG), the international community has committed itself to taking immediate action to combat climate change and its effects. KfW is committed to this goal and, on behalf of the Federal Government, in particular the Federal Ministry for Economic Cooperation and Development (BMZ), supports (poorer) countries around the world in their efforts to transform into climate-friendly societies and economies and tap into and exploit the great potential this offers.
In 2018 KfW Development Bank committed EUR 5 billion worldwide on behalf of the German Federal Government for climate and environmental projects, which is around 58 per cent of all new commitments made by KfW Development Bank. This is expected to save 5.1 million tonnes of carbon dioxide equivalent annually in the partner countries in the coming years.
KfW was also represented at the World Climate Conference in Madrid from 2 to 13 December. Further efforts in climate protection and the formulation of long-term goals were negotiated and discussed there in order to achieve climate neutrality by 2050. At the conference KfW cooperated with other national and international development banks that have joined forces in the International Development Finance Club (IDFC).